Rental market snapshot for Chatham, Chicago
Chatham rental market summary
The rental market in Chatham, Illinois is showing signs of growth. In July 2023, there were 311 new listings, a significant increase from the previous month. The median rent for the month of July 2023 was $1,100, an 18.3% increase from the previous month and an 18.9% increase from the same time last year. This indicates that the rental market in Chatham is becoming more competitive and that demand for rental properties is increasing.
The increasing median rent in Chatham is a sign of a healthy rental market. With more people looking to rent in the area, landlords are able to increase their prices and still attract tenants. This is a positive sign for the local economy, as it indicates that the area is becoming more desirable and that people are willing to pay more to live in Chatham.
Median rent for all residential properties in Chatham
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The most expensive listings and top trending buildings in Chatham
Most Expensive Listings
Address | Rent Price | Bed / Bath |
---|---|---|
8137 S Rhodes Ave | $2,375 | 4 / 2.0 |
829 E 88th St | $2,200 | 4 / 2.0 |
7957 S Prairie Ave | $1,800 | 3 / 1.0 |
454 E 83rd St | $1,661 | 3 / 2.0 |
454 E 83rd St | $1,654 | 3 / 1.0 |
Top Trending Buildings
building name | avg rent price |
---|---|
NOVO Properties | $1,050 |
Pangea Real Estate | $841 |
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Bedroom Breakdown in Chatham
Chatham neighborhood apartments rents
The rental market for studios in Chatham, Illinois is relatively stable. In July 2023, there was only one new studio listing, and the median rent for studios increased by only 1.0% from June 2023 to July 2023, from $748 to $755. This indicates that the rental market for studios in Chatham is not experiencing any significant changes in terms of availability or pricing.
The rental market for 1-bedroom apartments in Chatham, Illinois is showing signs of growth. In July 2023, there were 27 new 1-bedroom listings, a 1.5% increase in median rent from June 2023 to July 2023, and a median rent of $835. This indicates that the rental market is becoming more competitive, with more people looking for 1-bedroom apartments and landlords increasing their prices. This trend is likely to continue in the coming months, as demand for 1-bedroom apartments in Chatham continues to rise.
The rental market for 2-bedroom apartments in Chatham, Illinois is relatively stable. In July 2023, there were 21 new 2-bedroom listings, and the median rent remained the same as it was in June 2023 at $930. This indicates that the rental market is not experiencing any significant changes in terms of pricing or availability.